A guide to Payday Loans in Maine, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in Maine?

Maine's UCCC applies. 9-A Me.Rev.Stat.Ann. 2-401. Supervised Lenders are exempt from 32 M.R.S.A. 6138(4)(D) which prohibits a check casher from cashing or advancing any money on a postdated check.

Q: Are Payday Loans legal in Maine? 
A: No Payday Loans are prohibited in Maine; only supervised lenders are permitted to offer small loans. 

Q: What is the maximum interest rate charged on small loans in Maine?
A: The maximum interest rate charged on small loans in Maine is 30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 for amounts financed $75.01-$249; or $25 for amounts financed of $250 or more.

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the Maine Department of Financial Institutions at:

Maine Office of Consumer Credit Regulation
Address: Department of Professional and Financial Regulation, 35 State House Station Augusta, ME 04333
Phone: (207) 624-8527
Fax: (207) 582-7699
Regulatory Contact: William N. Lund, Director

Website: http://www.state.me.us/pfr/ccp/ccp_index.htm

Where can I find a payday loan store in Maine? 

You can find the store nearest to your location by simply clicking on this link  loc: Maine